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The Latest Breaking News on Economy

Liz Truss warned 'simplistic' tax cut plans would 'completely crash' the economy

Institute for Fiscal Studies boss Paul Johnson tore into the Conservative frontrunner's tax plans - as ex-Chancellor Lord Darling warned of the 'lethal cocktail' facing the British economy from inflation and a looming recession

Daily Mirror

Central Bankers in Jackson Hole embrace tightening mission ahead

Top officials from the world’s biggest central banks coalesced around a simple message in Jackson Hole this weekend: They are ready to follow through with higher interest rates, even if it does some damage.

Tribune News Service

Sectors join forces ahead of jobs summit

The national welfare advocate, as well as business and union representatives, are urging the federal government to ensure long-term unemployment is eradicated.

AAP

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Warren says Fed policies could tip US economy into recession

WASHINGTON — Sen. Elizabeth Warren took aim at the Federal Reserve’s inflation-fighting game plan on Sunday, saying she was worried the central bank will tip the U.S. economy into a recession.

Tribune News Service

Johnson: Golden future to follow ‘tough’ spell for resilient Britain

The outgoing PM predicted that the UK will emerge ‘stronger and more prosperous the other side’ of the cost-of-living crisis.

The Independent UK

Should Australian companies make millions out of people’s unemployment misery?

Next week’s jobs summit seems like an opportune time to raise questions around the lucrative employment industry

The Guardian - AU

These are energy bills many Britons simply can’t afford. Some will pay with their lives

This price hike threatens to create a whole new class of poor, and it is clear our wretched politics will do nothing to protect them, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

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Powell's Jackson Hole speech will stir speculation on rates

When Federal Reserve Chair Jerome Powell delivers what will be his most closely scrutinized speech of the year Friday, investors and economists will be turning over his remarks for any clues about how fast the Fed may continue to raise its short-term interest rate — and for how long

The Independent UK

Biden’s student-loan relief adds new wrinkle to inflation debate

President Joe Biden’s plan to forgive a portion of student loans held by tens of millions of people will ripple through the economy as personal spending and savings shift, but no factor will be more closely watched than inflation.

Tribune News Service

Fewer Americans claim jobless benefits last week

Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy

The Independent UK

Government revision shows economy shrank 0.6% last quarter

The U.S. economy shrank at a 0.6% annual rate from April through June, the government said in a slight upgrade from its initial estimate

The Independent UK

Decade of ‘lost economic growth’ in UK has cost Scotland billions, new analysis claims

SCOTLAND's economy lost out on around £18 billion because of a “decade of lost growth” in the UK which has added to the impact of the…

The National (Scotland)

Govt. approves ₹1,500 crore action plan for Kalyana Karnataka region against budget promise of ₹3,000 crore

Benefit to the region is too meagre, say critics

The Hindu

New PM will need to get a grip after the summer’s grim news

There is a growing sense of a crisis out of control even to those who have seen similar before

Evening Standard

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The Times of India

Explainer: What is pushing China towards economic slowdown & how it may impact India

NEW DELHI: World's second largest economy is moving towards an economic slowdown. Persisting geopolitical challenges, inflation and resurging cases of Covid-19 has put the Chinese economy under pressure.

Asharq Al-Awsat

Erdogan’s Plan to Manage Turkey’s Economic Crisis Gets Summer Reprieve

A windfall of foreign funds arriving in Turkey and sustained interest in a state-backed deposit scheme have brought some relief for President Tayyip Erdogan's economic plan less than a year before tight elections. Erdogan's program stressing monetary stimulus, exports and economic growth sent inflation soaring when the central bank slashed…

Daily Mirror

'Follow Labour's lead and freeze the cap on energy costs to save Brits this winter'

In the face of spiralling energy costs that are set to only keep increasing Brits need decisive and active leadership but currently have none with the Tories in charge

Tribune News Service

Your check's in the mail: States give tax refunds to cushion inflation

DENVER — This month, Colorado taxpayers began receiving refunds from the state government. Joint filers got $1,500, and single filers got $750. Enclosed was a letter from Democratic Gov. Jared Polis, who noted that the checks — required under the state constitution — were being mailed ahead of schedule, due…

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AAP

Gains for consumer confidence again

Consumers have regained some of their confidence, but the services sector has contracted for the first time since the start of the year.

The Independent UK

Fears that poor face second year of benefits cuts after inflation tipped to top 18%

New PM told not to repeat mistake of last April – and ensure payments rise in line with prices

Dublin Live

George Hook on recession fears admitting debt nearly destroyed his marriage

The former Newstalk presenter also fears Sinn Fein will take his money if elected

The Independent UK

How do interest rates affect inflation?

Borrowing costs already at their highest level in 13 years

AAP

Record $8b 'slippage' in NSW expenditure

An "astonishing" amount of NSW government expenditure pledged in the budget for state projects will not get out the door this financial year.

ABC News

Real wages are shrinking as profits are soaring. But are most businesses really raking it in?

Workers are getting a record low share of Australia's national income, while company profits surge. But is it just a temporary phenomenon caused by the commodities boom or a deeper structural crisis in our economy?

The Guardian - UK

How to tackle the UK cost of living crisis – the main economic ideas

Our writers assess and cost the key ideas floated so far, from targeted help to the most vulnerable to a new windfall tax

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